Toromont Industries Ltd. (TSE:TIH) Increases Dividend to $0.56 Per Share

Toromont Industries Ltd. (TSE:TIH) declared a quarterly dividend on Friday, March 6th, TickerTech Dividends reports. Investors of record on Thursday, April 2nd will be paid a dividend of 0.56 per share on Thursday, April 2nd. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, March 6th. This is a 7.7% increase from Toromont Industries’s previous quarterly dividend of $0.52.

Toromont Industries Price Performance

Shares of TIH opened at C$210.32 on Wednesday. The company has a current ratio of 2.93, a quick ratio of 1.38 and a debt-to-equity ratio of 25.87. The company’s fifty day simple moving average is C$183.42 and its 200 day simple moving average is C$165.89. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$215.58. The company has a market cap of C$17.13 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 3.72 and a beta of 0.52.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 EPS for the quarter. The company had revenue of C$1.42 billion during the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. On average, research analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of C$165.00, for a total value of C$825,000.00. Following the transaction, the insider directly owned 12,012 shares of the company’s stock, valued at C$1,981,980. This represents a 29.39% decrease in their position. 0.27% of the stock is currently owned by corporate insiders.

About Toromont Industries

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.